NewEdge Advisors LLC Purchases 37,423 Shares of Chevron Corporation $CVX

Key Points

• NewEdge Advisors increased its Chevron position by 3.1% in the second quarter, purchasing 37,423 shares and bringing its holdings to 1,249,960 shares valued at approximately $207.2 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported strong quarterly results, with earnings of $6.06 per share and revenue of $67.2 billion, both exceeding analyst expectations. The company also declared a $1.78 quarterly dividend, representing a 3.4% annualized yield.
• Analysts remain broadly positive, with 20 Buy ratings and an average target price of $211.35, while Chevron’s planned $7 billion-plus Venezuela expansion could boost production. However, the stock’s proximity to its 52-week high and Venezuela’s geopolitical risks present potential challenges.

NewEdge Advisors LLC raised its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,249,960 shares of the oil and gas company's stock after purchasing an additional 37,423 shares during the period. NewEdge Advisors LLC owned about 0.06% of Chevron worth $207,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. First PREMIER Bank grew its holdings in Chevron by 0.8% during the 2nd quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company's stock worth $1,070,000 after acquiring an additional 50 shares in the last quarter. Vanguard Capital Wealth Advisors boosted its holdings in Chevron by 1.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company's stock worth $467,000 after acquiring an additional 50 shares in the last quarter. Cornerstone Advisory LLC increased its stake in Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock valued at $1,164,000 after purchasing an additional 52 shares in the last quarter. Compton Financial Group LLC increased its position in shares of Chevron by 1.9% in the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock valued at $609,000 after acquiring an additional 56 shares during the period. Finally, Quantum Portfolio Management LLC increased its holdings in shares of Chevron by 2.7% in the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock valued at $435,000 after purchasing an additional 56 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela expansion adds production potential: Chevron plans to more than double the number of oil rigs it operates in Venezuela as part of a five-year growth plan. The company’s expanded joint ventures target production of approximately 600,000 barrels per day and include additional acreage in the Carabobo region. The initiative could provide meaningful production growth and leverage Venezuela’s large reserves. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Large investment signals confidence in long-term growth: Chevron is expected to invest more than $7 billion over five years to expand its Venezuelan operations. Management says strong cash flow and synergies from the Hess transaction give the company financial flexibility to pursue the expansion while continuing to support shareholders. Chevron doubles down on Venezuela with a $7 billion oil bet
• Positive Sentiment: Oil-market backdrop remains supportive: Reports of higher oil prices amid escalating Middle East tensions are supporting energy-sector sentiment and Chevron’s earnings outlook. Analysts have also argued that the company’s rally could continue, citing strong energy prices, earnings and operating fundamentals. Stock Market Today: Dow dives, oil pops
• Neutral Sentiment: Management commentary reinforces the strategy: At Barclays’ energy conference, Chevron executives discussed the Venezuela growth plan and broader operating priorities. Investors will look for additional detail on capital spending, production timing and returns. Chevron presents at Barclays energy conference
• Negative Sentiment: Valuation and geopolitical risks are rising: Chevron has surged more than 40% this year and is close to its 52-week high, leaving less room for disappointment. Venezuela’s political, sanctions and operational risks could delay or reduce the expected benefits of the expansion. Chevron stock is near a record high
• Neutral Sentiment: Dividend appeal remains intact but requires substantial capital: An investor starting from scratch would need more than $146,000 in Chevron shares to generate $5,000 in annual passive income at current dividend levels. This highlights the income potential but is unlikely to be a major near-term trading catalyst. How many shares of Chevron are needed for annual passive income

Chevron Trading Up 0.7%

Shares of Chevron stock opened at $210.09 on Wednesday. The stock has a 50 day moving average of $192.79 and a 200 day moving average of $190.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a market capitalization of $415.08 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 0.61 and a beta of 0.50. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating analysts' consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The company's revenue for the quarter was up 57.4% on a year-over-year basis. As a group, research analysts predict that Chevron Corporation will post 16.51 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, August 19th. Chevron's dividend payout ratio is currently 68.26%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CVX shares. Wells Fargo & Company raised their target price on shares of Chevron from $226.00 to $230.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. BMO Capital Markets increased their target price on Chevron from $210.00 to $235.00 and gave the company an "outperform" rating in a research report on Thursday, September 3rd. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Mizuho set a $224.00 price target on shares of Chevron in a research report on Monday, August 3rd. Finally, UBS Group reaffirmed a "buy" rating on shares of Chevron in a research note on Tuesday, June 23rd. Twenty analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $211.35.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the transaction, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R. Pate sold 2,470 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the sale, the insider owned 10,794 shares in the company, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. Corporate insiders own 0.56% of the company's stock.

About Chevron

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron's upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.

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